Molson Coors Beverage (NYSE:TAP) Shares Purchased by Guggenheim Capital LLC

Guggenheim Capital LLC boosted its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 14.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,151 shares of the company's stock after purchasing an additional 4,656 shares during the quarter. Guggenheim Capital LLC's holdings in Molson Coors Beverage were worth $2,072,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TAP. HighTower Advisors LLC increased its stake in Molson Coors Beverage by 123.3% during the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock worth $1,047,000 after acquiring an additional 10,080 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock valued at $2,046,000 after acquiring an additional 563 shares during the last quarter. US Bancorp DE increased its position in Molson Coors Beverage by 103.9% during the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after acquiring an additional 9,825 shares during the last quarter. Unified Investment Management purchased a new stake in shares of Molson Coors Beverage in the fourth quarter valued at $871,000. Finally, Wilsey Asset Management Inc. lifted its holdings in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock worth $31,557,000 after acquiring an additional 8,679 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Down 0.6 %

Shares of TAP traded down $0.34 during midday trading on Wednesday, hitting $58.66. 2,052,269 shares of the company's stock traded hands, compared to its average volume of 2,085,636. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $64.82. The firm's fifty day moving average is $60.11 and its 200-day moving average is $58.27.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's dividend payout ratio (DPR) is currently 35.14%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TAP shares. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research report on Monday, April 14th. Berenberg Bank started coverage on Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target on the stock. Morgan Stanley upped their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research report on Friday, February 14th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research report on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $64.39.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.